(VentureBeat) Worldpay, a payments processing giant, has developed a proof of concept that demonstrates how shoppers could pay for things using their bank card while inside a VR environment.
The prototype setup adopts Host Card Emulation (HCE) — virtual representation technology that’s similar to what’s used in mobile payments services such as Android Pay — to recreate a real-world payment experience inside a VR application.
“As technology moves on, so do the needs of consumers,” noted Nick Telford-Reed, director of technology innovation at Worldpay. “As a leading payments company, it is our responsibility to consider where the next generation of payments will take place. We have built this prototype to provide a seamless, secure payment option for consumers in a virtual world. The benefits for merchants experimenting with virtual and augmented reality could be significant.”